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HomeMy WebLinkAbout1444 3. To piace and continuously keep on the b~i!ding~ now a hereafttr utuate on said land and on all cquipme~t ~nd perso~alty covercd by this mwt~ age, with sll prem~ums thereon pa~d in fvil, fire insurance ~n the usual standard poliq form, in a sum app~oved by tha MORTGAGEE, a~d w~ndstwm lnsurance in ihe usual a~andard pol~cy ~orm, in a sum spproved by ~he MORTGAGEE, in i~ch compa~y or compan~es as the MORTGAGEE may direch and ail fire and windstorm insurance po~k~es on a~y of sa~d build~npi, any interest therein or part the:eof, i~ Ihe aggregate tum aioressid w in excees thereof, ahall contain tF+e usual standnrd mortgagee clause o~ ~uch o~ha claus~ as tM Mat9sgee may requ~re, maAirq the loas under said poii- c~es, each and every, payable to said MORTGAGEE ss ~es interest may appea?, and each and evcry such policy sh~ll be promptly au.gned and delivered ~o eny heW by said MORiGAGEE es further tecurity to uid matga9e deb~, and, not leu than ten (10) days in advance of ihe expirotion of each policy, to da I~ver to said MORTGAGEE a re~+ewal thereo(, toycthe~ with ~ receipt fw Ihe premium of such renewal; and there sFwll be no f~re or winditorm iniurance placed on a~y of said buildings, any interest the~ein or part fhercof, unless in the fo~m end wi~h the lo:s payable as aSo~esaid; and in the evenl any sum of money bccomes payable under such policy w policies said MORTGAGEE ahall have the option to receive and apply the same on account of the indebted- neas secured F?~reby u to permit said MORTGAGORS to receive and ua~ it w any pa~t thereot iw otne~ purEwses, w~~ho.,l the~cu~ waiving w~mpai~- ing a~y equ~ty, t~en or right unde. or by virtue of th~s mo:~gage; ~nd in the ~vent w~d MORTGAGORS ~hall fw any reason fail to keep 1he said prem~ses so insured, or fail ro deliver promptly any of said polities of insurance to aaid MORTGAGEE, or fail promptly to pay fully any p+emivm therefor or i~ any resped fait to pe~fwm, d~scharge, execute, e(iect, complete, comply with and abide by thit covenant, w any par~ hereof, said MORTGAGEE may plxe a~d pay fw such insurance or any part thereof w~thout waiving a affecting s~y option, lien, equiry, w right unde~ a by virtue of ihis Mwtgage, and the futl amount of each and every such payment shall be immediately due and payable ~nd shall bear imerest from the date thr.eof until paid at the rate ol nine per ceotum per annum and to~e?her with such in?erest shali be secured by the lien of this matgage. I. To permit, commit or suffer no waste, impairment or deterioration of said property q any paA therzof. 5. To pay aIS and singular tha costs, charge~ and expenses, +ncluding a reasonsble anwney i fee and cosn of abstracts of title, i~uurred w paid at any time by said MORTGAGEE, because or in the event of the failure on the part of the said MORTGAGOR to duly, pranptly and fully perform, d~uharqe, execute, ef(cct, comp~ete, comply w~th ar+d ab:de by each a~d every the stipulat~ons, agreements, conditions, and covenants of said pranessory note and ~his mortgage a~y ot either, and sa~d costs, charges and expenses, each and every, shall be immediately due and psyable; whether or not there be notice dc mand, attempt to collett or suit pend~ng; and the full amount of each and every such payment shatl bea~ interest from Ihe date thereof until paid at the rate o~ nine per centum Ner annum; and all said costs, char9es snd expenses incurred or paid, 1ogNher w~th tuch interest, shall be setured by the lis~ of thi~ mortya9e. 6. Tha~ (a) in the event of any breach of this Mortgage or default on the part ol the MORTGAGOR, w(b) in the event any of said sums of money ~ herein referred to be not promptly and fully paid within Ihirty (30) days next after the same severaliy become due and payabte, wi~hout demand or notite, or ic) in the event each and every the stipulatiorts, agreements, conditions and covenants of sa~d Fromiuory nete and th~s morlgage any w eilht~ are no1 ~ ~uly, promprly and lutly performed, d~scharged, executed, effected, compieted, complied wi~h and abided by, then in e~ther a any such event the said ag gregate sum mentioned in said p.on,issory note then remaimng unpaid, with interest accrued, and all moneys secured hereby, shall become due and pay- able twthwith, o~ ~hereafter, at ihe opt~on of said MORTGAGEE, as fully and comptetely as il all of the said sums of money were aginally ~tipulated ro be paid on such day, anything in sa~d prom~sswy note or in this Mortgage to the conrrary notwithstar~ding; and thereupon or thereafter at the option of said MORTGAGEE, without no+ice or demantl, suit at law or in equity, therefore or thereafter begun, may be prosecuted as if all ma~eys secured hereby had matured pr~or to ~ts institution. 7. That in the event that at the beginning of o~ at any time pending any wit upon this Mo~tgage, w to fpeclose it, w to re(orm if, w to enfores payment of any cleims hereunder, said MORTGAGEE shall apply to the Court having juriad~ctio~ thereof tor the appointment of s Reteiver, such Cwrrt shall forthwith appoint a receiver of said morlgaged prooeny all and singular, includ~ng atl and singular the irtcome, profits, issues and revenues from whstever source derived, each and every of which, it being expressly undeistood, is hereby mortgaged as if speufically xt fath and dexribed in the granting and habendum clauses hereof, and such Receive~ shall F~ave all the b~oad and effenive funct~ons and powers in anywise entrusted by a Cou~t to a Receiver, and s~ch appointment shall be made by such Gou~t as an admitted equity and a matter of absolute right to said MORIGAGEE, snd without reterente to the adequacy w inadequacy of the value of the property mwtgaged or to the sotvency or insolvency of said MORTGAGOR a the defendants, and that such rems, profitz, income, issues and reven~es shall be app~ied by such Receiver accord~ng to the lien or equity of said MORiGAGEE and the practice of such Court. 8. To duly, promptly and fully perform, discharge, execute, effect, complete, comply with and ~bide by each and every the stipulations, agreements, co~ditions and covenants ~n said promissory note and this mwtgage set forth. , 9. TFat in the event the ow~ersh~p of the mortgaged prcmises, or any part thereof, becomes vested in s pcrwn other ihan the MORTGAGOR, the MORTGAGEE, its successws and ass~gns, may, withovt notice to the MORTGAOR, deal with such successw or tuccessor in interest with reference to this rr,ortgage and the debt hereby secured in the same manner as w~th Mortgagor without in any way vitiating or diuharging the Nbrtgagors' liability here under w upon the de6t hereby secured. No sale of the premises hrreby mo~tgaged and no forbearance on Ihe part of the MORTGAGEE or its successors or ass~gns and no e,etension of the time ior the payment of the debt hereby secured given by ehe MORTGAGEf or its successon or auigns, shall operate to release, discharge, modify change or affect the original liab~l+ty of the MORiGAGOR here+n, either in whole or in part. ' i T0. h is spec~fically agreed that time is oi the essence of this contract and that no waiver of any obl~gat~on he~eunder w of the obligation sr cured hereoy shal~ at a~y time tFwreafter be held to be a waiver of the terms hereof a of the instrument secured herby. 11. In add~t~o~ to the faego:ng monthly payments of princ'pal and interes! requ~red by the promiswry nore secured hereby, mortgagor covenants and agrees to pay to mo:tgagee with each monthly payment an add~rional sum estimated by mortgagee to be equal to 1/12 ot the annual cost of the follow- ing: j A-All real property taxrs levied or asseised against the above desaibed real estate. i j B-Prem~u~ns on iire and windstorm inw~ance as herein requ~red to be carried on the improveme~ts situate on the above described premisrs. ~ G-Premiums on s~ch mortgage guaranty ir.surance as mortgagee shall from t:me to time deem fit to carry on the loan secured he~eby. Z ~ Mo~tgagee sha!t from time to time notify mortgagor in writing of the amo~nt due and payable hereunder and s~ch sum shall ihereupon be due and ` payable on tha due date of ihe next monthly payment and each successrve month thereafter ur.til martgagee ahati notify mortgagw of a change in such ~ amount_ Such sums sFail be apptizd by mortgagee toward the payment of real property taxes, insurance p~em,ums, a~xl mortgage guaranty insurance ~ f - ~ ~ premi~ms. ; IN WITP~ESS VYHER~OF, the said MORTGAGOR hss hereunto set his ha~d and seal the day and year first afwesaid. ~ ) Signed Seafed and d{iver in the presence of: / ' ~,C6~'~. FILEO AND RECOROED ~ (Sean ~ ST. lUC1E COUNTY. FL/f. ~-an ;I C4~=^ ;,c~i~:~0 ~ . 186643 ~~n SSATE OF FLORIOA ~ i ~69 ~EC ~ ~ 9 ~ S~L;. sT, wciE ~ Jj,.~ ~z couNn oF ~ Before me personally appeared M~1dOW X~~ ~ ~i~~t~~T COURT' ~~e to roe well krwwn ard known to me to be the individualj dexribed in and who executed the foregang instrument, and acknowledged before me that she~? executed the same fw the p~rposes rherein expressed. ~ii~ { ~ . ~ - - • 2 ! WITNE55 my hsnd and,official seal thi~ day of Decembez A D. 19 69 ~ 5 ~ Notary Publ' in and fw the tate of Fbrids at L~rps ~ My Comm" ion expira: G 7/ - Return To: ~ ,;j first Federal $avings S loan Asiociation x,~;~ St~}r L~ aZ . - Of Fort P~erce. 6, 1911 • " ;,{y COtA;:.15SiJ~ ~~`ES d11~• ~ Fort Pierce, Florida ~ • ~d~~~~fitM~ ~ :,.'j:': - ~ t~ ~ ~ ~ ~ ~ ..i This Instrument Prepared By J. D, Chastain .:J- . ` - ~ ' _ - - ' }u First Federal Savings & loan Association ~ : ~ ~ ' ~ . .~r . • : ~ - : v.~_: = ' of Fort Pierce~ Flozida ? Q ~ -.•'t . F -•r~ p pt ~ ~ Checked By ~ ,i ~ ES ~ ~ 600K PAGE 444 ° k 181 ~ ~ ~ ~4 i ~ - _ ~ s r. . _ _ . , _ _ , _ .